Hi BETOPEN, I have a couple of questions regarding your ICO. I've been following this ICO for a while, and I'm confused... there seems to be no detailed explanations on how investors can monetize, or profit long-term on their investment in your company. How will the profit share work?
All I've read so far is essentially (paraphrase) "give us $; and we'll give you a potentially unsellable token, and a profit share on a balace sheet that we may or may not ever show you some day". Usually a detailed business plan should be offered to entice investment. Where can I find more details?
VALUATION: How can the valuation of each coin be $10 if the demand for ico token has been relatively low? We know there's a relatively low demand because the 100000 tokens weren't divided equally amongst the Initial investors who bought out from the original ICO release (July 26, 2017 end date). As of this morning, there were 46 holders of BETOP tokens since the initial June ICO, (hence the "extension" I'm guessing). Most legitimate ICO's would have established valuation from this pool of 46. According to Ethplorer.io, there are 102834 BETOP tokens total, of which 97168 have been retained (not sold), and 5666("value" of $56,660 approx.) sold to investors. BETOPEN should have divided $56660 by 100000 tokens. This would give a real valuation of about .56666 cents a token. Instead of doing this, Betopen seems to have given a $10 valuation as a type of share in the company, because if not, the token is virtually worthless... unless you can explain better. Any demonstration of a business plan would be welcome. This token cannot be traded because it was never initially divided equally to establish a true valuation.
How would my investment in BETOPEN be traded or cashed out if need be? Since Betop tokens were never divided, and 97% are still owned by the company, the token cannot be on any real market. Also, the indefinite extension of the ICO is not fair to the true "initial investors". From what I gather, your arbitrary $10 valuation seems baseless. I have seen no business plan other than "invest and get tokens at $10 per token", this scares me into thinking that its a junk coin . How can a value be given to a token that cannot has never been fully released, or cannot be sold??
I want to be wrong, but I'm afraid my analysis is spot on. Again, any detailed information would be nice to have, because this seems like a scam at the moment. Thank you for your patience, and I'm not here to hate... unless you're screwing your investors.
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